Sotheby’s Sets Wine Auction Record at $29 Million

By Neat Pour Staff
| Published April 2, 2018

With a little help from Sotheby’s, the Asian alcohol markets continue to set records. Last week, the auction house set a new mark for wine sold from the block. The 1785 lots sold in the auction fetched a whopping total of $29,090025.00.

“We are thrilled to set a new world record for any series of wine auctions,” said Jamie Ritchie, Worldwide Head of Sotheby’s Wine. “To sell every one of the 1,758 lots in two major single-owner sales as well our various-owner auction is a sign of a buoyant market as well as the confidence placed in the Sotheby’s team by both consignors and buyers.”

Three different collections actually comprised the auction. The first simply described as “The Philanthropist’s Cellar” accounted for $16.2 million in sales, a record for a single-owner wine sale in Asia. (As per the name, all proceed will be donated to charity. Stanford University’s ‘Rural Education Action Program’ which helps impoverished children in rural China is the primary beneficiary.)

The paddles flew furiously during bidding for the collection highlights including full cases of 1986 and 1961 Lafite; 1959 and 1982 Mouton Rothschild; 1961 and 1982 Margaux; 1959 and 1989 Haut-Brion; 1970 Petrus; 1990 Le Pin and 1982 Cheval Blanc and Latour; 1989 Montrachet; not to mention 1978 La Tâche.

The second collection traced it’s origins to the cellar of the late Hollywood mogul Jerry Perenchio. In da biz’, Perenchio was known for his roles first as power-agent and then as CEO of Univision, not to mention his producer credit on Blade Runner. However, among oenophiles, he was renowned for his incredible stash of French wine. That juice, sold at auction this weekend pulled in $52.8 million which will be entirely donated to the Perenchio Foundation, “whose principal mission will be to support visual and performing arts programs and institutions in Los Angeles.”

Sotheby’s listed highlights of that sale as Jeroboams of 1971 Domaine de la Romanée-Conti La Tâche, bottles of 1966 La Tâche, magnums of 1985 Romanée-Conti, bottles of the 1966, 1955, 1971 and 1985; a Jeroboam of 1924 Château Mouton Rothschild, a magnum of 1869 Château Lafite, 1985 Richebourg from Méo-Camuzet and Henri Jayer and Musigny Vieilles Vignes from Comte Georges de Vogüé from the 1940s, 50s and 80s.

For good measure, a third collection titled, “Finest & Rarest Wines” raked in another $6.1 million.

If you missed out on the auction, fear not. Sotheby’s plans to sell off a reserved portion of these cellars at a North American auction later this year.